FinTech News: January 27th, 2017

This week, the battle over consumer financial data continues, with Chase offering tech companies a more secure way to access their systems and more similar deals likely to come throughout the year. However, without an agreed-upon protocol, these deals won’t be enough to protect consumers.

This week, JP Morgan Chase and Intuit announced a partnership that will give Chase customers access to Mint, TurboTax, and other financial tools, without requiring the customer to share login information with Intuit.

After the JPMorgan-Intuit deal, consumer advocates praised the bank’s CEO for offering a more secure option for JPM clients. But these deals are not enough – the industry still needs to set standards and best practices for all banks to give access to all digital tools. This will put a faster end to screen-scraping and benefit the consumer most.